kathimerini.gr
Increased Mortgage Demand Expected in Greece Due to "My Home 2" Program
Greek credit institutions expect a significant increase in mortgage loan demand during Q1 2025 due to the "My Home 2" program; 71,374 applications have already been submitted, half for incomes under €24,000, and half between €24,000 and €36,000.
- What is the projected impact of the "My Home 2" program on mortgage loan demand in Greece during Q1 2025?
- Greek credit institutions anticipate a surge in mortgage loan demand during the first quarter of 2025, primarily driven by the "My Home 2" program. The Bank of Greece's Q4 2024 lending survey reveals that while demand for mortgages and consumer loans remained unchanged, a significant increase in mortgage applications is expected in Q1 2025.
- How does the distribution of "My Home 2" applications across different income brackets reflect the program's accessibility and effectiveness?
- This increased demand is directly linked to the implementation of the government's "My Home 2" program aimed at boosting homeownership. The program's success is evident in the 71,374 applications received on the gov.gr platform, with half targeting incomes below €24,000 and the other half between €24,000 and €36,000.
- What potential long-term consequences might arise from this increased mortgage demand, considering the broader economic and real estate landscape?
- The "My Home 2" program's impact on the mortgage market will likely lead to increased competition among lenders and potentially influence interest rates. Sustained demand could also spur further investment in the housing sector, shaping the overall real estate market in the coming year.
Cognitive Concepts
Framing Bias
The framing is largely neutral, presenting data on loan applications across different sectors. However, the prominent mention of the "Spiti Mou II" program early in the article and the inclusion of its application statistics could subtly emphasize the housing loan market over other sectors. While this is relevant, greater diversification in the introduction could avoid unintentional bias.
Language Bias
The language used is largely neutral and factual, relying on descriptions like "almost unchanged" and "relatively stable." There's no use of loaded terminology or emotionally charged words.
Bias by Omission
The article focuses primarily on the demand for loans and the expectations of financial institutions. It omits details about the specific characteristics of loan applicants (beyond income brackets in the "Spiti Mou II" program), the types of properties involved in mortgage applications, and the overall economic context impacting loan demand beyond liquidity and interest rates. While acknowledging limitations of space might explain some omissions, a broader economic overview would strengthen the analysis.
Sustainable Development Goals
The program "My Home 2" aims to increase access to housing loans, potentially reducing inequality in housing access. The fact that 50% of applications are for incomes up to €24,000 and 50% for incomes between €24,000 and €36,000 suggests a focus on lower and middle-income households, thereby potentially contributing to reduced inequality in housing.